Representatives from Rastegar brought a presentation on the development to City Council in September 2021 but no action was taken at that time.
The developers are based in Austin and have acquired land and existing developments throughout the metro to expand their footprint.
The property was purchased in 2019 in two separate acquisitions, according to founder and CEO Ari Rastegar, and has undergone rezoning to prepare for the development plans.
There will be more than 1,000 single- and multi-family units throughout. About 60 acres of the development will be reserved for open space and integration into The Vybe, a city-wide network of trails. Another 12 acres will be reserved for a new elementary school. There will also be some mixed-use space and an amenity center.
“What we’ve created is what we’re calling 'futuristic suburbanism,' that effectively is what we believe is the future of suburban living in a post-COVID[-19] environment,” Rastegar said.
Rastegar said they are also in talks to open a Leroy and Lewis Barbecue concept within the development.
“We think that is such a community add, to have such a high-end barbecue spot there in the area,” he added.
Rastegar said they plan to work with the city on establishing a public improvement district and expect to start putting shovels in the ground in August.